Optional Pension definition

Optional Pension means a form of pension selected by the Participant under 4.7 in lieu of a Retirement Pension and all Survivor Pensions and other Survivor benefits.3
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Optional Pension means a form of pension selected by the Participant under 4.5 in lieu of a Retirement Pension and Permanent Survivor Pension.
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Optional Pension means a form of pension selected by theParticipant under 4.717 in lieu of a Retirement Pension andPermanent Survivor Pension.
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Examples of Optional Pension in a sentence

  • Other housing expense $TOTAL $Signed Date HOUSING EQUITY ALLOWANCE AGREEMENTThe Portico offers an Optional Pension Plan fund that can be used for Housing Equity compensation.

  • Optional Pension FormsRather than the mandatory pension form referenced above, you may elect a wide variety of optional forms of pension, subject to the completion of the above mentioned waiver form, where applicable, and regulations under the Income Tax Act.

  • Effective June 1, 1997 Eligibility: The Optional Pension Plan (OPP) and Employee Savings Plan (ESP) are part of the Savings Program.

  • To be eligible for the Optional Pension Plan, you must be a participant of the Retirement Plan.

  • In each case, the calculation shall not take into consideration (a) any future COLAs or (b) except in calculating a 100% joint and survivor annuity where the Participant’s Named Beneficiary is his Spouse, any Survivor Pension under Article 6 or any Optional Pension under section 4.5.

  • This behavior is due to the fact that finite verbs must be placed into second position matrix clauses, and that verbal particles must be stranded in this process according to certain conditions involving stress.

  • Rostered leaders may make salary-reduction contributions to their retirement accounts (formerly ELCA Optional Pension Plan).

  • Optional Pension PayoutsYou may elect in writing any one of the optional retirement benefit payouts: 1.

  • Unless the Participant shall have elected to receive an Optional Pension or unless the Participant’s Retirement Pension was calculated as the Life Annuity Equivalent of his Alternate Benefit Accrual Account, his surviving Spouse (if any) shall be entitled to receive a Survivor Pension in the amount of 75% of the Participant’s Retirement Pension (or the Retirement Pension the Participant was then entitled to immediate receipt of).

  • Notwithstanding the foregoing, this form of Optional Pension shall not be available to a Participant who has a Spouse unless his Spouse shall have consented in writing to the selection of such Optional Pension on a form and in a manner satisfactory to the Board.

Related to Optional Pension

  • Retirement Benefit means the benefit set forth in Article 5.

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Actuarial equivalent means a benefit of equal value when

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • occupational pension means any pension or other periodical payment under an occupational pension scheme but does not include any discretionary payment out of a fund established for relieving hardship in particular cases;

  • Termination Benefit means the benefit set forth in Article 7.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.